Alumni Ventures Invests in Enact Systems to Accelerate Solar Adoption

July 12, 2024

Enact CEO Deep Chakraborty Recently Discussed His Company on AV’s Tech Optimist Podcast

MANCHESTER, NH, JULY 2024Alumni Ventures (AV), one of the world’s most active venture capital firms, is a proud investor in Enact Systems (Enact), a leader in solar and battery storage technology. Enact’s advanced, user-friendly platform is designed to streamline the customer journey from project design to implementation to performance tracking. AV invested in the company’s $11.5 million Series A led by Energy Growth Momentum, with participation from NB Ventures, Olympus Capital, ARKA Venture Labs, and angel investors.

Enact has developed a comprehensive SaaS platform that automates the process of designing, delivering, and measuring the outcomes of solar and battery storage projects. By leveraging proprietary software, Enact simplifies the complex process of adopting renewable energy solutions for buildings, homes, and businesses. The platform enables users to remotely design projects using satellite imagery, eliminating the need for site visits, and integrates all necessary data to create detailed proposals quickly.

“Enact is all about making the transition to solar power seamless and transparent for consumers and businesses,” said Co-Founder and CEO Deep Chakraborty, who recently discussed his company on AV’s Tech Optimist podcast.  “Our platform provides an end-to-end solution that not only simplifies the design and installation process but also tracks the financial performance of these investments over time, ensuring our customers see the real value of their projects.”

While Enact originated in California, it has seen significant growth across the United States and internationally. This includes rapid adoption in California and the Northeast, driven by the increase in electric vehicle ownership and the corresponding rise in electricity bills. Internationally, markets in Germany, Italy, the Middle East, and India are experiencing incredible growth due to lower hardware costs and faster payback periods.

“Enact’s commitment to transparency and efficiency aligns perfectly with our vision for sustainable investments,” said AV Managing Partner Greg Baker, who hosted the conversation with Chakraborty on AV’s Tech Optimist podcast.  “Their technology not only simplifies the adoption of solar power, but also ensures that consumers can see and trust the financial benefits.”

About Enact

Enact’s award-winning software platform is designed to transform and accelerate clean energy globally. Enact is the only two-sided platform that allows both residential and

commercial users to simplify their entire solar and energy storage purchase and ownership journey, designed by Enact and delivered by local solar professionals.  Enact also enables thousands of professionals in over 25 countries to sell and deliver projects and manage solar assets for long-term performance. Visit  https://enact.solar/  to learn more.

About Alumni Ventures

Alumni Ventures (AV) offers accredited individuals access to professional-grade venture capital, a key asset class missing from the portfolios of many sophisticated investors. Since 2014, AV has raised $1.3+ billion from 10,000+ investors and backed 1,300+ unique portfolio companies. AV is a top 20 venture firm in North America according to CB Insights, as well as the #1 most active venture firm in the U.S. and #3 most active in the world according to PitchBook’s 2022 and 2023 rankings. AV has  also won awards from Inc. Magazine, Fast Company, Benzinga, and the US FinTech Awards. AV funds are private, for-profit, and not affiliated with or sanctioned by any school.

About Tech Optimist

The Tech Optimist Podcast, presented by Alumni Ventures (AV), focuses on the intersection of technology, entrepreneurship, and innovation. True to our name, we are passionate about technology and its potential to drive positive change. We explore our lane through interviews with startup founders, venture investors, and futurists; discussions of new innovations; and reviews of trends in tech and venture capital. Click here to subscribe.